Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam
Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam
Building casinos that are new Vietnam includes all kinds of government roadblocks
For whatever reason, in Asian and Russian countries, they like to zone off their casinos. Every thing needs to be in a designated ‘economic zone,’ perhaps showing that many things in these national countries aren’t supposed to make a ton of cash, at the very least not if they’re legal.
New Casinos on the Runway
Vietnam fits this mold, and legal gambling enterprises are still a concept that is fairly new, not forgetting almost solely aimed at a foreign market, as locals are mostly barred from casino gambling. Now a high-profile businessman that is vietnamese Hong Tuyen, listed as a CEO to watch by the Japan Times wants to create a fresh casino project via his Tuan Chau Groupand its US partners in the Van Don Administrative Economic Zone in Quang Ninh province into the northeast region of Vietnam. He also desires to get a gambling house going in Ha Long City on nearby Tuan Chau island, adjacent to a marina that is new will be opening up here.
If he can get ‘er done, Tuyen would be one of only a handful of developers to crack the bureaucracy grid that has very long kept Vietnam lagging behind its brethren that are asian this arena. A huge sticking point for most casino investors happens to be the significantly odd dictum by the Vietnamese government that a the least US$4 billion be committed to any projected resort-casino plan; a number that is pretty daunting for also well-funded builders in the gaming industry today. (altro…)